Four state banks to pay $8 million in credit lawsuit

September 25, 2013

CHARLESTON (AP) — Four banking companies have agreed to pay the state nearly $8 million to settle a lawsuit claiming they used deceptive tactics to sell credit card protection programs to customers....

Comments

Bullhead

Exactly! The terms of the outside "friends" who "pockets [receive the] 1.2 mill." were already arranged by former AG McGraw--not Morrisey who didn't come into office until January of 2013. So blame McGraw!

Wolverine52

@Major: Bank Buddies? Grow a lobe. Democrats are every bit as connected with Banks and buddies as the next guy./// Have to agree with Major on this one, its rare but it does happen.

@Bull. Umm the case was filed in 11. The hearing and the settlement was in 13. Why dont you call you friends office and get more of the facts there. Also I thought Morri claimed the consumer protection unit was a scam for the ol AG for political pts. Now he going to keep it funded...hmmmm. I guess when you have to pay your friends and croanies and you dont disclose the amount your going to give back

ARCADIAN

The real question here is whether Morrissey would ever have even thought about suing his banker buddies. And whether he will actually use the remainder to protect consumers. From everything I know about him and his hatred for anything "bad for business" (and good for the consumer), the answer to both questions is no.

Honestly, I'd like him to prove me wrong about this, but so far he seems like a true social Darwinist ideologue.

mountainterp

Now that the Bankers get their meager penalties. How about trying some of these CEOs for treason starting with the revelation that Koch Ind internal company records show that Koch Industries used its foreign subsidiary to sidestep a U.S. trade ban barring American companies from selling materials to Iran. Koch-Glitsch offices in Germany and Italy continued selling to Iran until as recently as 2007, the records show. Koch Industries units have also rigged prices with competitors, lied to regulators and repeatedly run afoul of environmental regulations, resulting in five criminal convictions since 1999 in the U.S. and Canada. Yeah this is the Company Majorterrorist loves. I vote Republican because I love traitors.

Sandpiper

The banks made how much? We don't know. So, they could have made 50 million and the settlement is just a cost of doing business. And of the 8 million, 1.95 is going to outside attorneys. And our AG is bragging about this? Jeez.

Wolverine52

Ah yes..fill your friends pockets with 1.2 mill. All the while those who where actually treated unjustly get $11.50 cents. I thought he said he was differant than the ol AG as he accused him of. Well nothing new with GOP hipocracy and croanism